Two out of three young people get help from their parents to buy a home in Oslo

While 51.4 per cent received financial help from their parents to buy a home in Oslo in 2015, the figure had increased to 67 per cent last year.

At the same time, the number of first-time buyers has fallen to 47,200, which is the lowest level recorded since the measurements began in 2018, reports Dagens Næringsliv.

This is connected, and it should be a real “wake up” call for the politicians, says director Carl Geving of the Norwegian Association of Estate Agents. The association has prepared the statistics.

– The strong housing price development in Oslo is the obvious explanation for the fact that so many more young people are now being helped by their parents into the housing market. The same housing price increase that makes it tough for young people has meant that many parents can afford it, he tells the newspaper.

Geving explains that parents have built up large housing assets over several decades. In addition, in the last decade, banks have provided framework loans, which make it easy to borrow to help the children with equity,

He believes that the equity requirement for those who are going to buy a home must be lowered in exchange for, for example, borrowers committing to fixed-rate contracts.